Crypto.com has become a member of the International Digital Asset Exchange Association (IDAXA). The organization sets industry standards and plays a leading role in advancing dialogue on proposed regulations. Crypto.com’s entry into IDAXA is an indication of how committed the cryptocurrency app and exchange platform is to this common goal and mission. IDAXA members include the Singapore Cryptocurrency and Blockchain Industry Association, Blockchain Australia, Hong Kong Blockchain Association, and Swiss Crypto Valley Association.
IDAXA rose to prominence at last year’s V20 Summit in Osaka, Japan where the MoU was signed, with the aim of encouraging collaboration between regulators and the digital asset industry. Next week, the V20 will meet again in Riyadh, Saudi Arabia, with Crypto.com now among its members. The main agenda is the discussion of FATF Recommendation 16, better known as The Travel Rule, which regulates the self-declaration of assets for citizens passing through customs.
Crypto.com Chief Compliance Officer Antonio Alvarez said: “Joining IDAXA is another example of our commitment to achieving our mission of accelerating the world’s transition to cryptocurrency. IDAXA plays an important role in bringing together the global blockchain and cryptocurrency industry to engage with legislatures, agencies and regulators. We look forward to participating in the development of global industry standards and regulations, such as compliance with FATF Recommendation 16.”
“We are pleased to welcome Crypto.com as an IDAXA Company Member,” said Anson Zeall, Chair of IDAXA. “Not only are they one of the largest cryptocurrency companies in the world, with a presence in major global markets, but their values are very much aligned with those of our organization. Together, we look forward to collaborating with the aim of developing better standards and championing financial transparency. This will give the crypto industry greater legitimacy while enhancing its reputation with regulators and the public alike.”